Video River Networks Inc (PK) (NIHK) Share Price

You are kidding-right? This scam-is-toast!>>>

Here is what the SEC says happened in their complaint... sheesh

https://www.sec.gov/files/litigation/complaints/2024/comp26171.pdf

Just a slap on the wrist nothing to see here. Perhaps something will happen with this stock now.

Looks like Frank got popped by the SEC. Explains why he has been quiet.

Frank Igwealor et al.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26171 / November 19, 2024
Securities and Exchange Commission v. Frank Igwealor, Patience Ogbozor, Alpharidge Capital LLC, American Community Capital LP, GiveMePower, Inc., Kid Castle Educational Corporation, Los Angeles Community Capital, and Video River Networks, Inc., No. 2:24-cv-09941 (C.D Cal. filed Nov. 18, 2024)
SEC Charges CEO with Misappropriation of $2.2 Million and $6 Million of Illegal Stock Sales
The Securities and Exchange Commission announced today it filed charges against Frank Igwealor of Playa del Rey, California, the CEO of several microcap issuers, for engaging in a scheme to misappropriate $2.2 million from a microcap company he controlled to purchase a home, and illegally selling millions of shares of three other microcap issuers he controlled for a profit of approximately $6 million.

The SEC’s complaint, filed in the U.S. District Court for the Central District of California, alleges in November 2021, Igwealor and his spouse, Patience Ogbozor, illegally extended themselves a personal multi-million dollar mortgage from a subsidiary of GiveMePower, Inc. while Igwealor was the CEO of the company and Ogbozor was a director. According to the Complaint, Igwealor subsequently orchestrated sham transactions involving GiveMePower, two additional microcap issuers and a private entity that he controlled in order to obfuscate the original misappropriation, transfer the mortgage and ultimately avoid repayment. In addition, from July 2021 to February 2022, Igwealor allegedly sold approximately 663 million shares of three different microcap issuers he controlled, in excess of limitations under the securities law, applicable to him as a control person of these companies.

The SEC’s complaint charges Igwealor with violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder, and aiding and abetting violations of Sections 13(a) and 13(k) of the Exchange Act and Rules 12b-20 and 13a-1 thereunder, and charges Ogbozor with violating Section 17(a)(3) of the Securities Act and aiding and abetting violations of Section 13(k) of the Exchange Act. In its case against Igwealor and Ogbozor, the SEC seeks permanent injunctions, officer and director bars, civil penalties, disgorgement, and prejudgment interest as to both defendants, as well as a penny stock bar against Igwealor. The SEC’s Complaint also charges GiveMePower, Inc, Kid Castle Educational Corporation, Video River Networks, Inc., Alpharidge Capital LLC and Los Angeles Community Capital with securities law violations in connection with the mortgage-related fraud; and charges Alpharidge Capital LLC and American Community Capital, LP in connection with Igwealor’s illegal sales of securities.

The SEC’s investigation was supervised by Tejal Shah and Michael Paley and conducted by Abigail Rosen, Thomas Peirce, Ricky Tong, Leslie Kazon and Alex Lefferts of the New York Regional Office. The litigation will be led by Ms. Rosen.

Yep, I can't believe still holding this POS. SMDH!!!

What will Frank do with this stock is the real Question.

I wonder how many will cash out next month for the write off?

I wonder how many will cash out next month for the write off?

According to the latest 10Q, stock is held by 169 investors.

Yes, I hope I'm not the only one?

Anybody still holding shares ??

I reiterate myself to what I have said 3 months ago…..dead cat bounce on no money involved…..this train terminates here if people on this blog believe or not!👎

Because someone sent less than a hundred bucks picking up trash? LMAO

If the end is near, I'm having a hard time seeing it today?

The end is near ……

In the 10-Q filed 5/20/24 page 12 looks like taking money from one pocket and putting it in another: "However, on January 12, 2024, due to the company’s need to simplify its balance sheet in order to approach the regulators to remove the Caveat Emptor tag from the company’s OTC Market profile, the company sold Alpharidge Capital LLC, its main operating subsidiary to American Community Capital, LP., a California limited partnership controlled by our President and CEO Mr. Frank I Igwealor, in exchange for cash payment of $1,562,067 payable in two hundred and forty (240) equal monthly payments of $6510, beginning on July 1, 2024. As at the time of confirmation of the transaction, the combined average market capitalization of NIHK and KDCE was $1,086,677 ($729,482 for NIHK, and $357,195 for KDCE), showing the FAIR MARKET value of the two parents of Alpharidge to have a combined market value of $1,086,677."

Is Video Rivers Network actually doing business? Is there any relationship between the business activities of VRN and its stock price?

Looks like folks are playing with this stock, buy low and sell as soon as it jumps, even on modest investment. Nobody new is in for the long haul.

What makes you think he walked away?

This dump ceo should be put to prison but nobody notified the SEC about his scam activities! So NOBODYshould be astounded that things like that happen all the time if no prosecution is unfolding!!!!!!!!!!!!!!!!!!!

I don't know why Frank went through all the trouble to get control of NIHK, make big plans and promises and then just drop it. He holds many shares and one would think his vested interest in the company would drive him to do something with it. All I can figure is that he ran a pump and dump scheme and somehow unloaded shares of NIHK when it popped to eighteen cents or so, making enough money to then bail on the company. I'm still holding shares as there is no money to be had selling them. Perhaps Frank will have a "come to Jesus" moment and do the right thing with NIHK: Get to work and build a company that does something, anything, to make money. I seriously doubt that will happen as Frank runs several other scam companies that are virtually worthless. He's a good talker though so I'm surprised he hasn't said anything for a couple of years now. If he had a reasonable business plan instead of Pie in the Sky dreams NIHK could at least get back over a penny. Hope springs eternal! I've reached out to Frank on Linkedin on several occasions but of course have never gotten a reply.

Any plan to get into the electric vehicle field is history. Every major brand is now marketing electric vehicles. There is no room left for nubies. If Frank wants to be in that industry he should focus on replacement battery assemblies or developing charging sites between the New York Metro area and Florida or affordable "Drive on Flat" tires for Tesla models. The number of electric vehicles will keep growing. The growth market will be in helping these vehicles be more convenient and trouble free.

I do believe that this incompetent ceo should engage either consultant and/or specialist manager to revive the company!
Just to hold on and sit on own shares doesn’t‘ bring the company back on track (do not understand how silly someone can be)

What happened is Franks plan to bring in Chinese cars and raising 10M fell apart. First the cars are not compliant with our safety standards as expected and Frank was unable to partner with anyone in the EV business. He was staying afloat by selling shells but that is now drying up also and he has no plan. He was riding the EV wave and I do think he had good intentions as he did stick a lot of his own money into it but end of the day it’s a failed business plan.

Franks a POS and should be in jail

Anybody got any idea what happened?

One of few Penny to get this Rating:
https://finance.yahoo.com/quote/NIHK/company-insights/

You are 100 % right as this ceo is a crook and has no more credit! Question is what he does with his large treasury stock of more than 20 % of outstanding stock he sits on for nothing?

Perfect fit, are you nuts?? Franky’s business is busted and wait until you see the 2023 Financials which will show a major decline. It appears no one is willing to partner with him and we are now going on a few years with no real update or plan from him.

I believe a perfect fit would be NIHK, ATVK and DDDX joining together producing Self Replicating Probes for NASA

Is NIHK an AI stock?

AI Trade Shows March should send all AI Stocks Flying: https://www.automateshow.com/

About the 10-Q filed on 11/13/23: https://twitter.com/NIHKEV/status/1724133291224371354

With no info of operations this should be rated CE by now according to OTC rules.

OMG! We have reached.01! Hope springs eternal!

Silence is golden……..👎

Silence is golden……..👎

You are right BUT how should this shitty stock led by an unserious and incompetent ceo prosper in the future ??????

Hope this continues!

Frank has bought more shares. The implication is that he has not given up on NIHK. Time will tell.....

Anybody wondering what is driving to nearly .01?

Anybody wondering what is driving to nearly .01?

Yeah exactly he bought mostly at 11 cents and I think in total, he spent 100's of thousands. He's down a lot, he's in it with up, I think he's going to buy a few cheap shares down here for a bit to keep the unrestricted outstanding shares lower.

The CEO filed over 20 form 4sss in the past 3 years and a bunch of them were when the share price was over .11 This makes me want to hold for a few more years.

I'M NOT EXATLY SURE WHY BUT I AND MANY KNOW FER A FACT HE WAS BUYING IN THE 0.05-0.10 AREA AND A LOTTA SHARES.

Where else would he buy if he was looking to get more shares?

Great time to buy Frank https://www.otcmarkets.com/filing/html?id=16947549&guid=Vag-kao64zK-B3h

Why would he buy on the open market?

Found the Form 4 on Benzinger.com

If he's buying, I hope he continues!

Do you have a link to the form? Thanks in advance.